SEOUL/LONDON (IT BOLTWISE) – North Korean hackers have stolen over $3 billion in cryptocurrencies since 2022, further fueling the country’s nuclear ambitions. South Korea is now considering revising its sanctions against North Korea to protect national security.
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Recent developments in international politics have drawn attention to the role of cryptocurrencies in geopolitical conflicts. North Korean hackers are said to have stolen over $3 billion in cryptocurrencies since 2022. These funds are reportedly used to finance North Korea’s nuclear program, which significantly affects the global security situation.
The US recently imposed sanctions on North Korean individuals and state-linked entities involved in crypto theft. These measures aim to disrupt the complex networks that North Korea uses to launder stolen digital assets. The sanctions affect, among others, Korea Mangyongdae Computer Technology Company and Ryujong Credit Bank, which are suspected of concealing illegal income.
Concern is growing in South Korea about the threat of North Korean cyberattacks. The government in Seoul is considering tightening sanctions against North Korea to ensure national security. Second Vice Foreign Minister Kim Ji-na emphasized the need for close cooperation with the US to protect the country’s digital infrastructure.
Analysts see South Korea’s openness to adjusting sanctions as a turning point in dealing with state-backed cyber threats. Traditional financial instruments are proving inadequate against anonymous blockchain transactions and decentralized money laundering networks. North Korea’s ability to exploit these weaknesses is forcing policymakers to develop new deterrence strategies in cyberspace.
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